QUINSTREET, INC

Listed Company

QNSTCIK 0001117297NasdaqLarge AcceleratedServices-Business Services, NecFY ends Jun 30

Period

FY 2024

Revenue

$613.51M

Net Income

$-31.33M

Total Assets

$368.55M

Equity

$216.82M

Shares Out

56.99M

Op. Cash Flow

$12.04M

Business

QUINSTREET, INC operates performance marketplaces and technologies that acquire customers for clients in information-intensive industries. It offers measurable online marketing outputs such as qualified clicks, leads, calls, applications and customers delivered through proprietary performance marketing technologies and data-driven optimization. The company’s business is organized around verticals with primary focus on financial services and home services, leveraging media buying, proprietary platforms, and analytics as core capabilities. Its distribution and geographic reach primarily covers North America through owned-and-operated websites, search and PPC, email, native/social, partner publishers and call centers.

Summary from filing dated 2025-08-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30	FY 2020 2020-06-30
Net revenue	614	581	582	578	490
Cost of revenue	567	532	528	508	438
Gross profit	46	49	54	71	52
Product development	30	29	22	19	14
Sales and marketing	14	13	11	11	9
General and administrative	31	28	26	26	23
Operating loss	−28	−21	−5	14	6
Interest income	408,000	296,000	10,000	39,000	230,000
Interest expense	−680,000	−790,000	−1	−1	−696,000
Other (expense) income, net	−2	−52,000	21,000	17	13
Loss before income taxes	−30	−21	−6	29	19
(Provision for) benefit from income taxes	−935,000	−48	514,000	−6	−584,000
Net loss	−31	−69	−5	24	18
Foreign currency translation adjustment	−2,000	−5,000	−6,000	—	—
Comprehensive loss	−31	−69	−5	—	—
Net loss per share, basic	−0.57	−1.28	−0.1	0.44	0.35
Net loss per share, diluted	−0.57	−1.28	−0.1	0.43	0.34
Weighted-average shares of common stock used in computing net loss per share, basic	55	54	54	53	52
Weighted-average shares of common stock used in computing net loss per share, diluted	55	54	54	55	53

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30	FY 2020 2020-06-30
Cash and cash equivalents	50	74	96	110	108
Accounts receivable, net of allowances and reserves of $2,106 and $3,722 as of June 30, 2024 and 2023	112	68	81	88	64
Prepaid expenses and other assets	7	10	5	8	14
Total current assets	169	151	183	206	186
Property and equipment, net	20	17	9	7	6
Operating lease right-of-use assets	10	4	7	11	9
Goodwill	125	121	121	118	81
Intangible assets, net	38	39	50	59	28
Other assets, noncurrent	6	6	6	5	536,000
Total assets	369	337	420	450	358
Accounts payable	48	38	42	45	37
Accrued liabilities	69	44	54	58	42
Other liabilities	9	8	12	13	7
Total current liabilities	126	90	110	116	86
Operating lease liabilities, noncurrent	8	1	4	9	9
Other liabilities, noncurrent	17	16	20	30	8
Total liabilities	152	107	134	154	102
Commitments and contingencies (See Note 11)	0	0	0	0	0
Common stock: $0.001 par value; 100,000,000 shares authorized; 55,473,439 and 54,192,928 shares issued and outstanding as of June 30, 2024 and 2023	55,000	54,000	53,000	54,000	52,000
Additional paid-in capital	347	329	316	320	305
Accumulated other comprehensive loss	−268,000	−266,000	−261,000	−255,000	−237,000
Accumulated deficit	−130	−99	−30	−25	−49
Total stockholders' equity	217	230	286	295	256
Total liabilities and stockholders' equity	369	337	420	450	358

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30	FY 2020 2020-06-30
Depreciation and amortization	24	19	17	16	11
Stock-based compensation	24	19	19	20	17
Impairment of investment in equity securities	2	0	0	—	—
Provision for sales returns and doubtful accounts receivable	896,000	3	581,000	—	—
Deferred income taxes	597,000	47	−791,000	5	4
Non-cash lease expense	−513,000	−1	−1	−816,000	259,000
Change in the fair value of contingent consideration	0	0	−926,000	0	0
Other adjustments, net	−256,000	−149,000	482,000	741,000	315,000
Accounts receivable	−45	11	6	−20	11
Prepaid expenses and other assets	3	−5	3	6	−8
Other assets, noncurrent	−875,000	124,000	−788,000	−173,000	6
Accounts payable	10	−5	−3	7	103,000
Accrued liabilities	25	−7	−5	11	1
Net cash provided by operating activities	12	12	29	51	48
Internal software development costs	−11	−12	−5	−3	−2
Capital expenditures	−5	−3	−3	−2	−2
Acquisitions, net of cash acquired	−5	0	−2	−49	−2
Other investing activities	−2	−121,000	86,000	0	25,000
Net cash used in investing activities	−23	−15	−9	−36	9
Proceeds from exercise of stock options and issuance of common stock under employee stock purchase plan	3	3	2	4	—
Payment of withholding taxes related to release of restricted stock, net of share settlement	−7	−5	−7	−8	−6
Post-closing payments and contingent consideration related to acquisitions	−7	−12	−13	−8	−9
Repurchase of common stock	−2	−6	−15	0	0
Net cash used in financing activities	−13	−19	−33	−11	−12
Effect of exchange rate changes on cash, cash equivalents and restricted cash	18,000	−15,000	−12,000	−36,000	143,000
Net decrease in cash, cash equivalents and restricted cash	−23	−23	−14	3	45
Cash paid for income taxes	470,000	372,000	396,000	293,000	373,000
Post-closing payments unpaid at acquisition date (See Note 6)	7	0	3	32	0
Contingent consideration unpaid at acquisition date (See Note 6)	2	0	0	3	0
Retirement of treasury stock (See Note 13)	−2	−4	−17	0	0
Purchases of property and equipment included in accrued liabilities	846,000	1	613,000	275,000	72,000

Filings

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